Then you compare the information you receive from the bank with the information available in AccountRight.

If necessary, you can add a transaction if it is not already recorded in AccountRight.

Then, you just need to confirm that everything received from the bank agrees with what you’ve got in your software. This is called ‘approving’ (see Approving a bank feed for more information).

Use bank feeds:

for transaction entry: Use bank feeds as a key way of entering information in AccountRight. Bank feeds speeds up transaction entry, as a lot of the work is done for you.

to get up-to-date bank information: Depending on how frequently your bank updates your feed, you can get information from bank feeds faster than from other sources. Instead of waiting for a remittance, you’ll know when a customer has paid you the moment it appears in your bank feed.

as a reconciliation tool: When you confirm that the information from your bank matches the information in AccountRight, your AccountRight transactions are automatically prepared for reconciliation. You have a lot less work to do when it comes time to reconcile your accounts.

It all happens in the Bank Feeds window

When you get your bank feed, the bank account transactions and your matching AccountRight transactions appear side by side in the Bank Feeds window. This is where you work with bank feeds.

A

Bank Statement

These are your bank feed transactions from your bank. You can sort them by clicking a column heading. For example, click Date to sort your transactions by date.

B

Manage Rules

Create or edit rules to automate the matching process. See Bank feed rules.

C

Closing Balance

The most recent statement balance provided by your bank.

D

Match

The Match column shows your transaction matching options, such as Approve, Find and New. These options are explained in Approving a bank feed. To sort this column, click the column heading.

E

Your Transactions

These are AccountRight transactions that match your bank feed transactions. You can sort them by clicking a column heading. For example, click Date to sort your transactions by date.